Shipping Corp of India seeks partners for ship-building, port, dredging plans
Shipping Corporation of India Ltd.(SCI), India's largest shipping company, plans to diversify into ship-building and port and dredging operations, and seeks partnerships from global and domestic partners, according to a top company official.
Board member Umesh Grover, director technical & offshore services, told Thomson Financial News (TFN): 'We have plans for getting into areas of shipbuilding, dredging and port terminal management.'
The country's premier shipping line owns 83 vessels with 4.6 million dead-weight tonnage (DWT) and runs liner and passenger services, bulk carrier and tanker services for the oil and gas industry, and offshore support services for the Indian oil exploration industry.
Grover, while declining to divulge the details of the company's investment in the proposed diversification blueprint, said SCI is open to form joint ventures or consortia in these areas.
Grover told TFN that the possibility of getting a foreign partner in the shipbuilding venture is not ruled out if it brings considerable value to the venture.
Responding to a question on SCI's stake in the proposed joint ventures, Grover said: 'If the management of future joint ventures wish to have us on board with SCI's stake ranging from about 15 to 25 percent, then we would go ahead. But in any case we won't pick up a stake beyond 50 percent.'
SCI also plans to enter domestic port terminal management and has submitted a bid, under the National Maritime Development Project scheme, for a project at Ennore in south India, Grover disclosed.
The development of terminals for handling iron ore, coal and chemicals at Ennore Port alone need an investment to the tune of $222 million, according to Ministry of Shipping figures.
The company also plans to begin dredging operations at some of India's major ports along with state-run partners Jawaharlal Nehru Port Trust (JNPT) and Cochin Shipyard, Grover said.
SCI is a member of an international consortium which transports LNG from Qatar's Ras Laffan LNG Company to Petronet LNG Ltd.'s (PLL) Dahej project in western India. SCI holds 34 percent in this consortium while Japan's Mitsui O.S.K. Lines Ltd. holds another 34 percent and other two Japanese companies NYK and K Line share the remaining 32 percent stake.
Board member Umesh Grover, director technical & offshore services, told Thomson Financial News (TFN): 'We have plans for getting into areas of shipbuilding, dredging and port terminal management.'
The country's premier shipping line owns 83 vessels with 4.6 million dead-weight tonnage (DWT) and runs liner and passenger services, bulk carrier and tanker services for the oil and gas industry, and offshore support services for the Indian oil exploration industry.
Grover, while declining to divulge the details of the company's investment in the proposed diversification blueprint, said SCI is open to form joint ventures or consortia in these areas.
Grover told TFN that the possibility of getting a foreign partner in the shipbuilding venture is not ruled out if it brings considerable value to the venture.
Responding to a question on SCI's stake in the proposed joint ventures, Grover said: 'If the management of future joint ventures wish to have us on board with SCI's stake ranging from about 15 to 25 percent, then we would go ahead. But in any case we won't pick up a stake beyond 50 percent.'
SCI also plans to enter domestic port terminal management and has submitted a bid, under the National Maritime Development Project scheme, for a project at Ennore in south India, Grover disclosed.
The development of terminals for handling iron ore, coal and chemicals at Ennore Port alone need an investment to the tune of $222 million, according to Ministry of Shipping figures.
The company also plans to begin dredging operations at some of India's major ports along with state-run partners Jawaharlal Nehru Port Trust (JNPT) and Cochin Shipyard, Grover said.
SCI is a member of an international consortium which transports LNG from Qatar's Ras Laffan LNG Company to Petronet LNG Ltd.'s (PLL) Dahej project in western India. SCI holds 34 percent in this consortium while Japan's Mitsui O.S.K. Lines Ltd. holds another 34 percent and other two Japanese companies NYK and K Line share the remaining 32 percent stake.